Netscientific Regulatory News (NSCI)

NetScientific plc

("NetScientific" or the "Company" or the "Group")

ProAxsis to Present New Data Underscoring the Importance of Neutrophil Elastase in COPD at ATS 2018

London, UK - May 2nd 2018 - NetScientific plc ("NetScientific", AIM:NSCI), the transatlantic healthcare IP commercialisation group, announces an update for its portfolio company, ProAxsis.

ProAxsis will be presenting data on NEATstik®, its novel point of care test for monitoring active neutrophil elastase (NE) in chronic respiratory disease. The data demonstrated that NEATstik® can identify patients with elevated active NE concentrations which could be related to bacterial infections which lead to respiratory diseases.

ProAxsis will also present data on a new high sensitivity version of the assay to a US audience at the annual American Thoracic Society conference. The development of the newer assay, which was co-funded by Innovate UK, provides further validation and underscores the emerging importance of neutrophil elastase as a leading indicator of infection and inflammation in patients with Cystic Fibrosis (CF), Chronic Obstructive Pulmonary Disease (COPD) and bronchiectasis, and an important drug target.  

Commenting on the news, Francois Martelet, Chief Executive Officer of NetScientific and Chairman of ProAxsis said: "The data presented at ATS show that NEATstik® can play a role in identifying the role played by a bacterial infection in COPD. We are very pleased to see continued validation of the role of neutrophil elastase in respiratory diseases, and excited about presenting data at the prestigious ATS Annual Conference. We would also like to thank Innovate UK for helping ProAxsis to advance both scientifically and commercially, and look forward to collaborating again in the future."

The full text of the announcement from ProAxsis can be found below.

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ProAxsis Presenting New Data on NEATstik and New High Sensitivity Neutrophil Elastase Immunoassay at ATS 2018

Date: May 2, 2018

ProAxsis confirms that new data on its ProteaseTag® technology will be presented at the American Thoracic Society Conference, which takes place between May 19th-24th in San Diego.

The University of Oxford team will be presenting data on NEATstik®, a novel point-of-care test for monitoring active neutrophil elastase in chronic diseases such as COPD, to the US respiratory community for the first time. NEATstik® gives a qualitative result from sputum in 10 minutes with minimal processing. The authors assessed 39 sputum samples and concluded that NEATstik® has the potential to identify those patients with elevated active NE concentrations which could be related to bacterial infection in patients with airways disease.

In addition, the company will be presenting data for the first time on the new, high sensitivity version of its immunoassay for measuring active neutrophil elastase. This immunoassay was developed in recognition of the fact that many researchers are seeking to measure biomarkers in respiratory fluids other than sputum, where the activity levels may be significantly lower. The assay development was co-funded by the UK's innovation agency, Innovate UK.

Details of these two presentations can be found below:

EVALUATING THE SENSITIVITY AND SPECIFICITY OF NEATSTIK® TECHNOLOGY COMPARED TO AN ACTIVITY-BASED IMMUNOASSAY IN SPUTUM SAMPLES.

Presented by Professor Mona Bafhadhel, University of Oxford

AUGMENTATION OF PROTEASETAG® ACTIVE NEUTROPHIL ELASTASE IMMUNOASSAY SENSITIVITY

Presented by Dr Darragh McCafferty, ProAxsis Limited

Dr David Ribeiro, CEO of ProAxsis, said: "NEATstik® was registered with a European CE Mark in late 2017, and we're delighted that the Oxford team will now be introducing initial data on the product to a US audience for the first time. We're very grateful to Innovate UK for supporting the development of a new version of our Active Neutrophil Elastase Immunoassay, and look forward to making this product commercially available in the near future."

About NetScientific

NetScientific is a transatlantic healthcare technology group with an investment strategy focused on sourcing, funding and commercialising technologies that significantly improve the health and well-being of people with chronic diseases. For more information, please visit the website at www.netscientific.net

About ProAxsis Limited:

ProAxsis is developing a range of products for the capture, detection and measurement of active protease biomarkers of disease. Its first commercialised immunoassay measures neutrophil elastase, a leading indicator of infection and inflammation in patients with Cystic Fibrosis (CF), Chronic Obstructive Pulmonary Disease (COPD) and bronchiectasis, and an important drug target. The rapid and easy-to-use tests being developed by ProAxsis incorporate patented ProteaseTags®; smart molecules which trap an active protease within a complex biological sample and enable a visual readout of its presence. ProteaseTags® provide a unique tool to identify and quantify active protease biomarkers and will assist in the clinical validation of new therapeutics.

ProAxsis is part of the NetScientific Group and is one of the Group's core portfolio companies. The company is also supported by QUBIS, the commercialisation arm of Queens University. To find out how ProAxsis can support the measurement of active protease biomarkers of disease, or for any further queries, please contact info@proaxsis.com